Company regtstration number. 01498800 Charlty reostratton nunther: 510201 Huddersfield Canal Society Limited IA company Urnited byguaranteel Annual Report and Finantlal Ststements fortheyear Ended 31 December 2025 The Moffatts Partnership LLP Sufte 1.1, Jackson House Slbson Road Sale M33 7RR Huddersfield Canal Society Limited Contents RefereTh￿ and Admlnlstratlve D2talls Trusteeg Report 2to7 Statsment of Trustee¢ Re$pon$hllftle5 Independert Examlnees Report Statement of Flnandal Actlvltles io Balance Sheet li Statsment of Cash Flows 12 Notestothe Flnandal Statements 13to26 Huddetsfield Canal So¢lety Urnfted Referente and Admlnlstratlve Detslls A L Stopher, thèlrman T Ellls M McHugh KW Sykes P R Bayley M J Clark A Goq8ln N J L&b*r. l•ppolrrt•d 29104120251 M McHu4h S•u•tsry D M ￿MIer. Presld•nt c￿rfty RqOts•tlw NumlJ•r S10201 Compwry Rqilitr*tlun Numb•r 01498800 Th• chartty Is Incorponted In Eniknnd and Wales. Pkudllly Buslnes5 Cerrtre Aldow Enttrprls• Pafk Manthèstèr M12 6AE INl•p•rtd•ntEx•fflln•r The MOff￿$ P•rtn•Yshlp LLP sU￿e 1.1, Jack50n House Sfjbson Ro•d M33 7RR The Co￿peratIV• B•nk pk Vlcar Street Lsi IHJ Untyyrust Bank Nlne Brlndleyptxe Blrrnlniham BI 2HB Page I Huddersfield Canal Soclety Umlted Trustees, Report Thè tnths. who are dlrectors for the purpose5 of company lèw, pr*sent the annu31 report together wlth the flnanclal statements and •udstors' report of the ch•rttabla compJn¥fortheyear ended 31 December 2025. StNclurffj 8o¥ern•nce End man•8•monl Huddersffleld Canal Soclety Is a compiny Ilmi￿d by 8uarant•• to th• ¥•hJt of £1 per member and does not h•¥• share c•phL Tho chirtty l58ov•rn•d ty th• Memorandum and Artkles of Assocktkorb of the company. The m•mb•rs of th• Councll of Manaymant ar• consld•r•d to b• both dlr•dors for coMp•n￿ Act purpos•s and trnstees for Charltles Ad purposes. One thlrd of the Councll members r•tlTe by rotltlon thch year and elactton t?k•s place it the knnual Genernl Me•tlni. The company1$ 8o¥err*ed by Its Councll of M¥nw8ement. whkh meets on a bl-mrthly basls. The Councll. aulst•d by outslde conwltar*t3, Is r¢spon$lble for formulatlng the sirategy and pollcles for the COM￿NY as 8 whole, Includlnith• •pprov•l of budgets •nd the •X•r¢I￿nI of financlal corrtr0lgthr0￿h r•4ul¥r flnafickl r•portln8. The members of the CouTrcll ol Man?￿M*￿t who h•¥e 5ery•d throulhout th• ye¥r •t¢ sho¥hb Oh the Offi¢l•ls •nd Advjsors pa8• at th• front of thls r•porL Mafvrrlsksondmanllqem•ntoyd￿ rls Rtsk PAonogementpollry The Soclety has Identlfted and revlewed th• rf5ks to whkh tt Is txposed and has qstabllshed •pproprl¥te l•wls of rewtlng and (ontrol m¢chanFsmsto mttl8ats thos• rlsk& Ohle£tl¥es•nd aclMtI•s Objertsartdalms Th• company k r￿thY*d for charhbkl purposes, th• obl•cts of whlch ar• r•rtor•tlon. recofistrurtlon, preservatEon, rnalntenince and hnprovem•nt of th• Huddersfield Narrow Canal and th• 8ro•d CaMI forth• us• of the publlc. The Counc5Vs pollcy In furtheranc¢ of the￿ oblectN*s has b••n to.. - maxlrnlse revenue and 5afeBuardlenhance Soclety assets and ffijnd ralse for Specrftc canal related proJect& - recruli new mernber5 to provlde a securè Income and attrart addltlonal volunteèrs to und•rtake specthc tasks. •.q. canal worklng partl?s. boat opvratlons. speclal e￿1￿, 8uldqs. schouis It•lson. envlronment41 Iswes. and malntain the hlgh qua16ty of the memberg nugazlne-Pennln• UnK' - operate boats owned or leased, to prornott tho canal and 5ocl•ty,' and . promote the canal to the aeneral publlc as the"unlque Wèterwaf to ralse ￿ profile by fest￿￿ culded toufs, soclals, l•rturo& publlcatlons and where approprlats. byfilmlaudfjo¥Lwèl ak1& Page 2 Huddetsfield Canol Soclety Llmlted Trnstees. Report The charlty has continued to prornoteth• Cahal to the ieneral publlc by varlous rmans. A¢hle¥emonts Ind perfon￿ln Donatlons and vlsliw Dumbers to our boat op•rntlons h1￿ been the hlihest so far In 2025 as th• Uppemilll operitlon contlnues to be popular and the e-shuttle at Marsden has ietefv•d Incre•sed patronag•. Efforts to recwlt more members are contlnulng as ¢rew aval1abl1￿ Is the Ilmttlng fador In the number of operntlnq dlys posslble. The contlnulnl dlscumlons wlth the varlous partles Invol4*d In Tunnel End Marsden are plmed at IncreaJlnB 4cl1v￿leS on thè siie as a whole. Durln4 the year th• Company succeeded In toncludln8 a contrlrt ft>r the salg of the loni lea￿ on Its fornwr office at Trnn$hlpment Warehouse. wlll r•alSs• w•ll In excess of th• bookvatue. S•• th• Chilmi•n's R•p)rt for more detslls on art1¥￿[•$ und•rt•k•n. Th• trustees haw ensurèd thèy carry out the oblecl1￿5 for th• publk beftefft and have Iln accord¥ncg wlth s17 Charttles Act 20111 trtad re8ard to Auldinc• publlshed by the Chatlty Commtsslon on publk benfrfft when exerclslng pow•rs or dutl•s whre that rnay bè r•lwant. The twstees tonltrm th•t they ￿ve cornplled wY£h th• requlrement5 of sectlon 17 of the charEt1￿ Art 2011 to have due regard to the publlc benefft auldance publlshed by the Chartycommlsslon for Enilond and W•les. The ￿CCesS ¢rf Hudd•tsfield C•n¥l Sodety depDnds on th• ¢ommttment and skllls of tts Councll m•mber& and volunteers. It also dèpends on those sUPPOrters and corporate bodles who elther dlrertty or IndIrert￿ have contrlbuted funds, supwt or •ssht•nce to the chartty In the p•sl year. To •ll of th￿e, speclal thanks Ire 8l¥en. Flnand•l re¥l•w Totsl Income for the yearamountsto £34.19912024- £46.￿1. Exp•ndliure forthe yeartot•ls £33.19312024- £25.0601 whkh •ll rethtes to unr•strtct•d fund5. Th• oNpr411 pojttlon at th• yearry•nd Is J Surplus of £24.39012024 - £40,426). Thls Includes In¥•stm•nt 8•kns of £23,38412024- £149261. The totsl reserves carrled foThwérd at th• y•ir-eftd are £359,94812024 - £335,558). All of the ¢harrty r￿er¥e9 arè unrestrlrt•d. It Is the ptsllcy of the C￿j￿(lI to Tetaln suth reserves as are necessary to enable the Socltty to fvim its oblertl¥es. The current lev•1 of Telep￿, held malhty In short terrn Investments, Is con51der8d to be more than adequote to rneèt this pollcy. Page 3 Tr￿dder$￿e1d Canal Society LIn￿ted Fundsth dejkft There are no funds In d•ffdL Pdn¢lple fvndln8 9Jurces inckmle ¥ohJntsry d0Th7t1￿ from th# membershy fee4 incw rtsk and l*uidty rlsk The use of financ1￿ dtrl¥atfves Ls SO￿ by the tharivs pDlk4es approved ty the board of trusiee4 which pro¥ide wrltten wlnuplE5 on the use of fvwncial dÈrlvaw to manage these rtsk& The chaniy does not Use deTN*lve finandal Instru￿1￿ for speuJlath* wrpo The trustees ho* a rnasonabte exr*tstlon that th• d4rlty hwe adequate re5r￿lte$ to contlrwe In operatlonal extstence for the foreseeable firture. The tharlty cortfinues to adoN the golng Concern basts on preparf[￿ its financthl ststement& PaÉe4 Huddersfield Canal Soclety Llmlted Trustees, Report ChalmiarfsAnnual R•port 2025 2025 has been a 518nSfk4nt year for the company In that we flnally va¢&ted our Transhlpment Warehouse offlc• to enable saleof the asset thus tsrln8ln8 to a close almost 40 years of havln8 an offlce base. Bo•rd meetln8s have been held regularly and the AGM held In N¢)vember 2025 In the Thoma5 Bourne room In what Is now the North of England Centre for Muslc and Arts •t Standed8e, followed by a Volunteers, Socl)I 8athedn& w•$ well attended. On a sad note Hudderslbeld Canal Soclety Patrons, Mmothy West and Prunella Scale5, both dled In 2025 and the earty months of 2026. Both were stalwart supporter5 of canal socletle5 findlng tlme durfn8 thelr busy Ilves to ￿51t Ihelr favouTlte waterway5 and through thelr IV serlts celebrate the waterway envlronment and all Involved In thE waterway communlty. l •m ple•sed I was abbe to represent our Soclety at nmotws memoflil servl¢e In London In Septlmber. Our two craft resumed 5ervlce In tlme for Easter 2025 It Ihelr re5pertlve lo¢atlons,. Marsden for the e-shuttle and Uppemlll for the Llttle Blue 8oat as the dle5el craft has be¢ome known. The latter has been a popul?r 8ttr•ttion Ind has made up for the reduced actlvlty at st8nded8e durln8 the year. The new b•tterles on thè E-shuttle have been J 8reJt suttess •nd very much Improved rèllablllty. Thè number of passengers and level of Income w85 at an •ll tlmè hl8h ¢)vernll fr*r th* yearand fji refiects the hard work of Mlke McHu8h and all the crew5 on both boats. I'm arnteful for all that they do to publlclse our Soclety and canal and the opportunlty they 8l¥e to vlsltors and local people to take a trlp on the canal. I w15h to record th¢ SocleV5 Ihjnks to member Peter Klllan •nd hls wlfe ft>r uge of thelr moortng ai Uppermlll wlthout whlch operatlon of the Llttle Blue 8oat would not be fe4slble. In￿lably some of our older crew rnembers have retlred from operatlon5 whlch make5 the efforts to recrutt replacement crews cruclal In orderto make theoperatlon of both boat5 Posslble. The Hanson famlly have been developln8 thelr operatlons •t the North of Engthnd C•rtr• for Muslc and Arts whlch has helped 8enerate foorfall. The FrleThd5 of Standedge ¢ontlnue to operaie tha café at Tunnes End It wtèktnds as well a5 workln8 on ground ￿l￿ten￿n¢t of th• slte. Our Soclety Is collaboratln8 wlth both or8anlsations and Canal & Rfver Tnjst stsff and volunteern to Incre45e vlslts to the Tunnel End s￿* and to start plannlng celebratlons Sn 2026 to mark 25 years slnce the reopenlngof the Huddertheld Narrow tsnal to through navlK•tlon. The Soclet(s m•lntenJn¢e operatlons contlnued on a fortnl8htty bas15 throughout the year. The re8ular dutle5 Involved Iltter clearance, lock gate palntlng, gear 8reaS1￿ artd vegetatlon control. I wlsh to th•nk Vlce Chalmian. Trevor Ellls, for h15 commltment ¥nd sklll In managlng the team's Important contrlbutlon to the canal envlronment. Sadly 2025 was •noiher year of severe dlsruptlon to canal traffic. The malor bonk fallure on New Ye8rfs Day at Mossley preventèd through passage untll September by whlch tlme most of the country was In the ylp of drought whlch Inhiblted navigation for the rest of the year on the Huddersfleld Narrow and rnany other canbls partieularty In the north of En8land. For most of the ye•r the only boats usln8 the canbl were our own as they dld not need to pass throu8h locks on thelr short trlps. Credlt must 80 to Canal & Rlver Trust for expedllln8 the th¥llengSng le￿IT of the breo¢h In a locatlon wlth Ilmlted occess and a stèèp drop to the RlverT¥me below. The vast malorlty of canal users walk or cycle the towp8th ènd our Soclety was SUPPOrtSve of the work to Improve the surfate from Slaithwar(e to Tunnel End duTln8the year. Page 5 Huddersfield Canal Society Limited Trustees. Report Our newèrt Trustee, Nik Lever, has already made an Impresslon brfng hts IT skllls to bear on our publlcity- Nlk enabled an attrattive Pennlne Llnk n￿letter to bÈ produced In September arKI he has bttn worklng on modernlsing our websr(e and revTsin8 the popular folded map leaflet. Our presènce on social medla has been enhanced W the work of a number of boat crew members and I'm 8Trteful for thelr commitment to keeping the 5ouety in the wbllc eye. Membership continues to be around 400. It is pleasing to note that there has been a steady nurnber of new supporters to replace lapsed and deceased members mainty through recruitment of new boat crew. l am grateful to Anne Go88ln for a6reeln8 10 take on the Membership Secretsry rolè earty in 2025 from Patritia Baylty. Anne's work85 minutes secretsry ha5 also been much apprttiated. We continue our Invofverneni wlih Nc+rthem Canals Assoclatlon and Keith Syke5 has been our point of conts¢t attendin8 most rneeting5 and sharing inft>rmaticffi with fellow canal ￿toratIOn Broups. Keith has also continued to Pre￿ on the SocSeVs behalf for Improved trjatsr fatllttres and has been in5trurnental in planning a visit by the l*Vlldernes$ 8oat aub to the canal In 2026. Keith Syke5 and Trevor Ellis joined me at the annual meeting on the operation al￿ rnaintenan￿ agreement with Canal & RiverTru5t mana8ers for both re8lons where we were able to raise concems about progress on aspects of Cftfs work and learn about thelr pdorltles at a tlme when Go¥emment financial support is reducln8 year on year. The Socbety led two hlstory based walks durin8 Hèritsge weekends In Septembèr, an aspect of our activitiès which Is set to increase In 2026. Interest in ljcal history rernains 5tron8 and sa￿S have necessr(ated a fourth imprint of theStsndedgeTunnels B¢)ok beln8 pub115hed. The Tr￿tee$ a8reed that the sale of our fomer office at Oob¢ross would best be achle¥ed by auctlon and thls priwed to be 5ucce5sful approach. Local e5tste agents put us Sn touch with Aurtion House and the ensuing proce55 resulted Sn hl8hest tsid much In excess of our antlcipated one. The purchaser needed lon8er than the contractual time to find the fvnds buttheTrustees felt the delay was worthwhlle as it finally proved. Vm grateful forthe effort5 of colleagues In helping sort throu8h the considerable volume of items in the Transhlpment Warehouse to get It In state to put in on the market. A key issue for the So(lety was identifying those item5 whlch should be archlved for fthure publlc accesslblllty. We were grèatly helped in this regard by the stsff of the West Yorkshire Archive Servlce, Klfklees ofllce, whkh du￿ accepted several boxe5 8thd to them forthis purpose. 2025 ts the third year in which ouraccounts show a surplus and this is set to continue. enabling investment In small projects whlth meet our obJertive5. I'm grateful to the our Trèasurer. Mlke McHu8h, for effldently maintalnln8 r￿OrdS of recelpts and payments. The Company's balanced portfolio of inV￿trnents 8ive5 the Soclety a slgnlflcant rinanclal buffer for the future. lfftllth the sale of the Transhlpment Warehouse golng through in January 2026 It wlll fr￿u$ our miryls on finding rfft¥ lar8er projects to invest in for the benefit of the Huddersfield Narrow Canal and its V5ers. Page 6 Huddetsfield Carnl Soclety kn4ted Tntstees, Report Thls report h•s been prewr•d In accord•nc•wlth the srnall corn￿nIeS reRSIM underthe CompanlesAct 21K*. Th• •nnual report Wa5 •pyMd bythetrurtees ofthe chawlly on 21 2026 •nd $4ned on Its behalf by. A L Stoph•r Twstee P￿? ddersfield Canal Soclety Umlted Statement of Trustees, Re5pon51bllltles The trustees (who zre also th• dlrectors of Huddersfield Canal Sotlety Llmtted for the purposes of company lawl Ire responslble for preparln8 the trustees. report and the flnanclal statements In accordance wlth appllcable law and Unlted Klnqdom Accountlng Standards Iunlted Klngdom Generalty Accepted Accounting Practkel. Includlng FRS 102 Yhe Flnanctal Reportlne Stshdard appllcable In the UK and Rewbllc of Ireland.. Compny law requlresthe tiustee5 to pr•pare flnanclal statements for each finanttsl y•af. Under company law th+ trustees must not approb* the flnanclal statemehts unless they are satlslled that they gl¥• • tnJ• and falr vlew of the state of affalrs of the chaTltable company and of the In¢omlng resources and appllcatloh of resources, Indudlr48 Its In¢orne and eKpendttur•, of th• chafttabk company forth•t ptrlod. In prep•rln8 these flnbnclal stat•m•nt& the tWSteeJ ar* requlred to: select suttable •cctyJntlw4 ￿1¢[•$ ind ipptythem tons1ste￿ty,. obseThe th• m•thod5and prlnclpkn In the Charltles SORP: mak• lud8•m•nts and estlm•t¢s that •r• r•ason•bh •nd prud•nt: state wheth•r appltcable accountlng standards. compTlsln8 FRS 102 ha￿ been follow•d. subl•cl to any mJter141 d•pArtur•s dlsclosed and explaln•d In the flnanclal statements,. and prewre the financlzl rtatements on the Kolng concern h515 unless ￿ ts In•pproprlate to pr¢sum¢ th*t th• ch•rtt•bl& comparry wlll contlnue In buslnes& The trustees art responslble for keeplnB proper accountlng records that can dlsckTrs¢ wfth r•#sonèble accuracy at Inv tlmo the flnanclal posttlon olthe charYmpahles Art 2006 r•latyng ta sm•ll companles. Dlrectors. r•sponslbllttl•s: Th• m•mb•rs hav• not r•qulred the ¢horlty to obt•ln an audlt of Its accounts for the year In quortlon In IC£Ordan￿ wtth 5ectlon 476; and Th• dlrartors acknowledge thelr respon51biif(les for complylna wjlh the requlrements of thè Act wlth r•sp•rtto accovntlnB r•cords and the prewratlon of 4ccounts, Thè flnanclal statements on pages 10 to 26 were approved by the trustees, and authortsed for Iw¢ on 21 May 2026 and slEned on thelr behalf bw. A L Stopher Trustee Th• not•son pales 13 to 26 form an Integrdl part of the50 financlal statemerts Pa£e 11 Huddersfield Canal Soclety Umlted 5t*ment of Cash Flows forthe Year Ended 31 December 2025 25 20 Not• C•th flows fr¢>m ope1ali￿ •¢tl¥thl¢s Net cash Incom• 24,390 40,426 Adlu%tm•ntsto c•th Ilows frwfv nvTr¢ash Items D•pTedatlon Investment Inrnrne Revaluatéon of Investments Loss on dtsposal of flxtd •ss6ts heid fvrthe ch4rlty's own u 5,359 17,9041 123,3841 4,336 2,797 S,873 17,443} 118,9251 19.931 Worklnl uplt•l •dl¥stm4nli Dqcr•ase stocks D•cr•aseAlncreèsel In debtors Increase In crodltors 15 47 16 1,353 1.816 13,64SI Net cash fflows from op•Yatln8 artlvltles 6.013 (•th Ilowsfrom In¥•thi •dlvttlos Interest retelved Acqulsttlons of tsTr8lble issets pr￿e•d$ from ￿1* of tsnilble assets Proceeds frorn sale of In¥e5tm•nts 7,443 19.2581 11,8601 S64 160 112 Net ¢•sh flows from Investlng actmtles 6,768 11,703 Net Increase Ih c•sh and c•sh equfvalents IZ781 16.845 Cash and cash equfval•nts •t l January 46.811 29,966 C•sh •nd ush equl¥al•nts at 31 December S9,592 46,811 All of the cash tlows •r• derfved from ¢0ntlnulnBo￿rnt1onS durlngthe •bo¥e two per￿d$. Th* not•s on pales 13 to 26form an Intedral part of these flnancthl staternertrts. Page 12 Notestothe Finandal Statements for the Year Ended 31 December 2025 The charfty ts Ilrn￿ed by auarantet. IncorpDrated in E￿￿fid and Waks. and Consequent￿ dr￿ not have share capttsl. Each of the twuste•s 15 Ilableto contrilxrte an amtyjht not exce•dlne atowards the assets of the charlty In the event of tlquidation. Pkcadllly 8Usthe￿ Certre Aldow Efiterp￿ Park Manchester M126AE These financlalstsiem2nts *pre a￿tI￿rIsed for Is** lrythe twsteeson 2114ay X126. The wfjncipal accounting policies applied in the yeparation of these financlal 5Mernents are *t ￿Jt bebw. These poltctes been cordstentty apFA￿ to aUtheyeaw5 wesented, unless ctherwise stated. The finah¢kil ststements have been WEPaYEd In a¢¢ordaTU wfth Acc￿￿ntIng and Reprjrtlng by Chafftlts: Statemènt of Recomff*nded Prathe (app1kab￿ to ¢harlths kYeparknB therr acctyjnts kn accr￿￿nce wfth thè Flnancéal Reporting Stsndard applicable in the UK and Rewblic of Ireland IFRS 10211 (issued in Cktober 20191- Icharittes SOAP IFRS 10211. the Finantial Reportlng Standard applKable in the UK and RepuFAic of Ireland IFRS 1021 and the Companteskt X￿. 8asls ol preparatlon Huddersfield Canal soC￿Y Umtted rr*ets the dth5tlon (* a beneft entty under FRS IOZ Assets and Ilabilttles are initialty rtcoentsed at hi5torKal £ost or transactlon unless otherwtse stated In the rejewdnt accounttrng poucy nrtes GOI￿ conorn The finandal ststen*nts I￿Ve been weparEd on a ooirycontern b￿1 The trustees assess T*hether the use of goi￿ coKem 15 approprfate l.e whether there are any matsdal un￿rtaInt[e$ related to e%wts or condttions that may cast s*nifrant doubt on tt* otral*y of the charity to continue as a eoln8 ¢Ofttern. The tn￿eeS make this assesgh*nt in respect of a pErlod of one year from the date of approwdl of the finandal staterne PaAe 13 HUddersf￿Id Canal Society Umlted Note5 to the Flnandal Statements for the Year Ended 31 December 2025 Adjustlng events Yfterthethsndal perlod During the financlal year, the Charlty put thelr Transhlpmenl Warehouse on sale at an auctlon. The property was sold for a value of £168.000. The officlal sjle was cornpleted on 16th January 2026 as the purchaser requlred longer thah the Corrtrdrtual tlme to find the fund& The net book ¥a￿e of the prtspèrty In the acujunts at the 31st Oecernber 2025 VAS £19,757. All incorne 15 rècognised once the chartty has entitlement to the income. It Is probable that the tn¢ome wlll be rece￿ed and the zmount of the Income recelvable can be measuTed reliably. Donationsare re¢wl$ed when the charliy has been notifled in writlng of both the amount and settlement date. In the event that a donatlon Is sublert to condrtions that require a level of perforrnance by the ch•r6ty before the char6ty 6$ etrtitled to the funds, the ￿¢01r* ￿ deferred and not recognised until e(ther those cond6tlons are fullv met. or the fulfilment of those corÈdltlons ts wholty within the wntrol of the charity and ￿ Is probable that these cond6tlons wlll be fvsfilled in the reporting pericd. Grants are recognlsed when the charlty has an entstlement to the funds ènd any Cond￿tiOnS linked to the grahts have been meL Where perfomwnce coDd(tlons are attached to the grant and are yet to be mel the incorne 15 recognlsed as a Ilabllfity and Induded on the balance sheet asdeferred Income to be released. Dfvidends are recoonlsed once the dlvldend has been d￿lared and notllkatlon has been receibpd of the di¥ldehd due. Income 15 recelved for membershlp of the society and bDat hlre. Incorne Is recognised on a receivable ba￿ EKpÈnd1￿ All expendli ure Is reco8nlsed once thefe 15 a legal or tonstrurtive obli8ation to that expendlture, Jt ts probable settlement is required and the arnount can be mèasured reliably. All costs are allocated to thè appllcable expenditure heading that aggregate similar costs tts that category. Where costs cannot be direcity attrfbuted to particular headlnes they have been allocated on a basts consistent 7pith the use of resources, central staff tosts allotatèd on the basls of tlme spènL and depreclatlon charges allocated on tht portlon of thè assèvs vse. Othèr ￿Pport to#$ are alkncated bastd on thè spread of #aff t¢)sts. All resources expeNled are Inciusfve of Irrecover3bJe VAT. These are costs Incurred fn attractknE ￿lUntary IncoTh*. the managÈment of tnvestments and those Incurred In trndlng 8Ctlvltlesthat ratse fund& Page 14 Huddetsfteld Canal Soclety Umfted Notes to the Flnanclal Statements for the Year Ended 31 December 2025 char￿able •xpendltur• comprlsesthose costs Incurred bythe chartty In the del(Npry of [ts4￿￿￿1•S •nd senAces for Its beNeflc￿rfeS. It Includes both coststhat can be allocated dlrectty to such acthrttles and those costs of an Indlrert Tha￿re not•ssarytOSUPPDrt them. 6ov•rn•ftt¢ ¢0 These h)¢lude the costs attrlbutabl• to th• thlrws compllanc• wjth const￿ut10nal and ststutory roqulrements. Includlni audtt. Strat￿[¢ mana8em•*)t and trustee's m••tlny and re1m￿r$￿ expense& Government Br•nts ère reccentsed based on th• accrual model and are measured at the falr of tha a55et re¢?Ived or r•c•fv•ble. Grdnts ¥r• Classlfled as r•latlTh8 erther to r•¥enutt or to assets. Grants r¢latlng to revenue ire retognlsed In Income 04tr the perlod In whlch the related costs Ire recoRnlsed. GT¥nts relatlng to assèts art recoinlsed oyer the expettod us¢ful Ilf• of the as*t, Wh•m part of i arnnt rehtlni to •n •s%•t Is d•f•rf•d. ￿ 15 reCO￿lsed a5 deferred Income. lff•¢o¥ff￿•vA7 lff•cov•r4bl• VAT h th•ryd ay1n￿ th• cite80ry of reJour¢e$ exp•nded for whl¢h It was Incurr•d. T•N•tlon The thirty Is consldered to pas5 the tests set out Sn Parn8rnph I Schedul• 6 olthe Flnance Acl 2010 and ther￿are meets the deflnttlon ol • charttabl• cornpany for UK corporntlon tax purpoMs. AccordIng￿, the charfty Is pot•ntlally exqmpt from tsxatlon In re$p¢rt of Incom• or caphl ylns recelv•d wtthln c•te8odes covered by Chapter 3 Pèrt li of the Corporatlon Tax Act 2010 or 5ecilon 256 of the Tixitlon of Chary•ibl• G•lns Art 1992, to the thent that such Income or4alns •r• applled •MCluS￿1V to ch•rlt•bl• purpw& Indlvldual fixed assets costlne Él.00 or mure are Inf(lalty recoTdod at cost, less •ry wbs•quent a(wmulthd deprqclatlon and subsequenl accumulated Impalrment Ioss•L Page 15 ersf*kl Canal S￿Iety Umlted Notes to the Flnancial Statementsfor the Yew ENled 311)ecember 2025 Depreclatlon Is provk4ed on tangtblt fixed assets so asto 7Arte df the u&or4*bJats)n. less anyestlmated reddual value. overthelr exr*cied usefvl economic lffB as folh*r. Leasehold preTrMses Leasehold irnpro¥tm Motorvehldés LSX strafght lkne bass i(rA stralght Ilne basis 20% stra￿t Ilne ba51$ SWICPA stratght line bas15 21fA strafjght Ilne Office equiprnent Cornwterequlwftent Ftxed asset ID*slments. other than prograrnme related Ih*5trrtnts are Ihduded at market Value at the b31aMI sheet date. Reèltsed 8alDs and bsses on In1*th￿nts zre caknlated as the dtfference betvRen sales FYoceeds and their Thwrket 7Alue at the start the year. or their subsu￿ent C05t. and are chawd or cndlted to the Statement of Flnantial kttth In th• perkjd of dlsN¥al. Unrealistd oaihs and losses rewesent the in mawket value5 thmrqthe aThJ #e LTedlted or tharyed tothe Staterneht of Flnanckl Actmtles ba*d on the rnarket atthey￿r end. Stock hvaw at the lo*vof cost and eAKnated seling Pr1￿ ie55 costs tocomplete and selL after due regard for obsolete and slow mo*q Cosi Isdeterrnined usingthefirt-in, frst-frtrt {RFO). Trnde debtots ore aft￿nts due from ¢uSt(M￿ for merth•Thlise sokl or [￿rn￿d in the ordlnary course of bu51nes& Trade debtors afe reccentsed at the trnn5aclb)n Tlw are subsequentty meagjred at amorttsed cost usln¢the effecth* (nterest rf*th*xl. less woNlslon for impalnnent A pro*knn for the wnpainnent of trade dÈt)tors ts estsbltshed when there is obiecthp e4rydence that the chaiity wll not be ab￿ to colbect all aTh￿nts due atcordingtothe ry18lnalterms of the Tecefvab Cash and cash equknlents comwise on hand and call dew5fts. and rther thOrt￿e￿ high￿1 Ilqukl In*stments that are readly con¥trtlbt•to a amwnt of cash aThl are 5ubJertto an tn*ificant riskof change tn value. PaEe 16 Notes to the finJncial Statementsfortheyear Ended 31 DeceM￿r 2025 Interest.bearlng bornw￿￿ are Intttany Tecorded at latr ¥ahJe. net of transackn co#& Intere5t4Jearlhg tK>rrowln&s are 5ubsequenfy tarrled at arwxtw cost. the diffvrence between the prtxeeds. net of tran5aCtlon cost* and the am(#Jnt due on redemrtth recLyi5￿ as • charge tothe Statement of Financlal Actiwtses the wi(xl ofthe rdevant Interest ex￿￿$* Is recwitsed (m the b3Si5 of the effettl¥e Inter* ff*t1K￿ and 15 thduded ID inter*# Paydble •nd slmilarchar8e& 8orro*ryngs are dasyw a5 currert liabllttles unless the d￿lty h35 aTr unrondftknal r*ht to dèfer settlemert of the liab116ty for at lea# rnonthsafter the ￿pOrtfi￿ date. Fund stwdwe Unrestrlrted Inujme fun(L% are genwal fund5 that ar* for use at thttnthes, dfjxret￿ In furtherance of the object￿￿ of the ¢harRy. Restricted income fuThls a￿ those dcrtwted for use in • partkuknr arèa orfor yalk purrp)se8 the use of *thlch ts restrlcted tothat area or wrrw. Flnancial assets and financial IRbllttl•s are recwlsed when the chamy becomes a prty to the contractual proNi%onsof the Instrument Flnancial liab61itles and equtty ir*5trumerts are dassrffed acco￿1￿ to the gjbstante of the contraciual arraryrnents entered Into. An equity instnin￿tt Is any contrart that e¥ilences a resKtual Interest ID the assets of the tharty afterdedurting all of tts liablklle P4e 17 Huddersfield Canal Society Umited Notss to the Flnanclal Statsments forthe Year Ended 31 Decefnber 2025 All flnanclal 3s5ets and Ilabllttles are Inltlali¥ measured at trafisartlon prlce Ilncludln8 transacllon costs). except for those flnanclal assets cla5sffled as at falr value through profft or loss. whlch are in1t1al￿ rneasured at falr value Iwhlch Is homièlly the transactlon prtte extludkni transactlon costs), Unle￿ the arrangement constrtutes finahtlng transartlon. If an 3rt3n#emettt col￿RUteS a ftnanclnB transartlon. the flnanclal asset or flnanclal Ilabluty Is measured atthe pM5ent watue of the f￿￿1¢ p•w￿nts dts(ouThted at • m•rket r•te of lThterert for a slmllar debt Ir￿rUMent. Flhanclal assets and Il•bllttles af• On￿ offset In the statement of Hnanclal posltlon ¥then, and only when there •xlsts a onfor¢eabE• rfeht to s•t off th• reco8Thlsed amouht5 and the charty Intend5 eltherto settle on a net b•sls, or to ro•11s• th• ass•t and s•ttl• thq Ifablltty slmultaneousty. Flnanctal •Mots ar• d•r•co8nts•d whan and only wh•n •) th• contracluil rws to th¢ ush flows from the finJn¢l•l asset explre or ar• settled. bl the chartty trnnsfers to aThother party substantl3lly all of the r15ks and revArds of ownershlp of th• fln•nclal assqt, or cl the chartty, desplte h•vln# retslned some, but not all, s*nlflGant rtsk5 and r•vArds of own•rshlpi ha5 transF*rr•d tortrol of the a55et to onother pirty. Flnanchl Il•blI￿leS 4Te derecoRnlsed only when the oblJ4itlon sp•cffl•d In th• contrnct Is dlschar4•d, c•nc•ll•d or explre% Page 18 Hudderdkld Canal Soclety Llmlted Notes to the Flnandal Statements for the Year Ended 31 December 2025 3 In¢om•lrom don•tlons •nO l•pd•s Unresmrted fvnds General Tot•1 2025 2024 DoTh•tlons and le8acles: Donatlonsfrom Ind￿￿15 Gfft ald reclalmed 16,947 2,597 16.947 2,597 27.125 5.159 19.S44 32.284 4 lThcom• from th•rhbl• Kltr4ld•J Unr•rtrtrt•d Tot•1 Total 2024 G•Mr SubscTlptlor*s Other Incom• Incorne frorn bo•t 1497 1826 1.428 2,497 2.826 1,428 1311 4,222 300 6.751 6.833 Bolt kncome from tr•dln8 charrtable •ctlvf(l•s was £1,42812024: £3001. Donatlons call•rt•d on the boat carTh7 to £16,36212024- £14,698} wlth assoclat•d Glft Atd of £2,00012024: qIXIOI. Th• tot•1 bolt Income donatlons collorted on the bolt amounted to £19.79012024: £16,998). S Inv•thnt In¢om• Unrertrfrt•d fvnds G•Mral Tolal 2025 Totsl 2024 Interest recefvable and slmltsr Ihtomt.. lftterest recefvable on bonkdoposlts oth•r Income frorn fixed a55et InvestThnts L045 6,859 911 6.532 6,859 7,904 7,904 7,443 Page 19 l￿dder￿f￿d Canal Soclety Llmlted Notes tathe Flnandal Ststements for the Year Ended 31 December 2025 nds Totsl 2025 2024 Other Investrnent rnana8en*nt co#s: Admlnlstrètlon ofth• tnwslm•nts 240 217 240 240 217 fMp•ndI￿rn on dw#•bl••¢lhft Tot•1 Tot•1 Openln8 Stock Canal ProJ•cts Purchases a0￿n& stock Shuttle funn1￿ costs Offlce expenses com1xtiti¢￿ and eb*nts PrSntlw postaae and st•tlon•ry Sundry expens•s Motuf expen Tra¥el and gJtthnc• 1.522 1.522 978 1720 11,4751 9.652 2,720 11,4751 9.652 330 IL5221 7.574 2.773 18 18 122 140 140 243 1047 231 1047 231 2,150 182 Bpnk ¢haree$ Depreclatlon (Profftinoss on Dlspos•l 144 144 143 5.359 5.359 4.336 5.873 30.188 22.050 In add￿10￿ lo the expendnure analY￿d ab￿, theTe are alw wMnan¢e corts of Q76512024 . a7931 whkh r•late d￿re￿￿t0 thawftable actl¥ltles. See note 8for further detsll& Huddersfield Canal Soclety Umlted Notes to the Fina￿131 Statements for the Year Ended 31 Decernber 2025 Unre#rfrted nds Genetal Totsl 2025 2024 Independent examiner fees Exarnination of the financtal statements Other fee5 paid to exarniners ZS92 173 1592 173 2520 273 2,76S 2,793 9 Net InC￿nIn￿￿*￿nB resour